IMF's LaGarde: Global trade marked by lack of trust

Obama names Indian American investor as IMF director

"When investors do not know under what terms they will be trading, when they don't know how to organize their supply chain, they are reluctant to invest", she told a news conference in Washington where world financial leaders gathered for the start of the International Monetary Fund and World Bank spring meetings.

Lagarde warned that public debt in advanced countries have risen to figures not seen since the 2nd World war. He has also insisted that China should not be allowed to flood the USA market with cheap goods while American firms do not get full access to the world's highest populated country.

The IMF also highlighted some risks for the Turkish economy. She cited trade tensions and rising global debts, which have hit a record $164 trillion. "It will affect the global economy".

Lagarde says the momentum is driven by the U.s, Europe, Japan, China and many emerging economies.

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The IMF published its World Economic Outlook report, leaving its global growth forecast unchanged at 3.9 percent for this year and next while boosting its outlook for the U.S.

Ms Lagarde said the trade tensions would be a major topic of discussion among finance ministers and central bank governors at the International Monetary Fund and World Bank meetings.

Trump and Abe said that they instead begun talks to secure a "free, fair and reciprocal" trade agreement. "We don't want to damage that", Ms Lagarde said.

Lagarde's warning comes as President TrumpDonald John TrumpHouse Republicans push Mulvaney, Trump to rescind Gateway funds Pruitt spent K flying aides to Australia to prep for later-canceled visit: report Rosenstein told Trump he is not a target of Mueller probe: report MORE mulls imposing up to $150 billion in tariffs on Chinese imports and billions more on steel and aluminum imports.

Cuba Has a New Leader
Castro also gave a vision for Diaz-Canel's future, saying he believed Diaz-Canel would serve two five-year terms as president. Cuba, he said, would remain "olive green" in honour of the military fatigues worn by the victorious revolutionaries of 1959.

While the Fed has been raising rates at a gradual pace, Lagarde expressed concern about the consequences if the Fed had to accelerate the pace of its rate hikes.

She called on all countries "to steer clear of all protectionism measures". A rapid succession of rate hikes could push down stock prices and potentially hurt developing countries that have come to rely on foreign investment, she said.

The IMF chief quickly added, however, she felt "the USA should try to [move] its deficit and [national] debt downward rather than upward".

She also warned, however, that the United States should take advantage of good economic times to work to reduce its debt and deficit, rather than increase it.

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Lagarde, also interviewed on the Fox Business Network, said that the United States and China should emphasize negotiations rather than imposing tit-for-tat tariffs on each other. She said "her strong recommendation" was that both countries should emphasize quiet negotiations.

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